Standard Corporation is a single entity which may be comprised of individuals or a company, but is separate from its owners. Among the most important features of a corporation is limited liability, which means that its owners can participate in the share of profits, but not the corporation’s liabilities. Along with limited liability, corporations possess the ability to own assets, enter contracts, sue or be sued, and borrow money. The creation of a corporation occurs following the proper filing of Articles of Incorporation (also called a Charter or Certificate of Incorporation) with the relevant government department or authority. Every corporation is comprised of shareholders, directors and officers. The directors are responsible for supervising and managing the corporation’s affairs.
Benefits of Alberta Incorporation
Alberta Standard Corporation offers many benefits, including
- the right to use corporation name across Alberta
- limited personal liability
- protection of company name rights
- lower corporate tax rates
- better access to capital and grants.
- single / multiple owner
- ownership easily transferable